Westpac Bank of Tonga (Amendment) Act 2015
Act 1 of 2015
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WESTPAC BANK OF TONGA
(AMENDMENT) ACT 2015
Westpac Bank of Tonga (Amendment) Act 2015 Arrangement of Sections
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Act 1 of 2015 Page 3
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WESTPAC BANK OF TONGA (AMENDMENT) ACT
2015
Arrangement of Sections
Section
1 Short Title .............................................................................................................. 5
2 Section 3 amended ................................................................................................. 5
3 New section 14 inserted ......................................................................................... 5
Westpac Bank of Tonga (Amendment) Act 2015 Section 1
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Act 1 of 2015 Page 5
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WESTPAC BANK OF TONGA (AMENDMENT) ACT
2015
Act 1 of 2015
AN ACT TO AMEND THE WESTPAC BANK OF TONGA ACT (CAP. 105)
I assent,
TUPOU VI,
27th May 2015.
BE IT ENACTED by the King and Legislative Assembly of Tonga in the
Legislature of the Kingdom as follows:
1 Short Title
(1) This Act may be cited as the Westpac Bank of Tonga (Amendment) Act 2015.
(2) In this Act, the Westpac Bank of Tonga Act (Cap 105), shall be referred to as
the Principal Act.
2 Section 3 amended
Section 3 of the Principal Act is hereby amended by inserting the following new
sub-section 3 –
“(3) Notwithstanding anything in sub-sections (1) and (2), the Bank shall
register as a company under the Companies Act as the Westpac Bank of
Tonga Limited.”
3 New section 14 inserted
The Principal Act is hereby amended by inserting the following new section 14 –
Section 3 Westpac Bank of Tonga (Amendment) Act 2015
Page 6 Act 1 of 2015
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“Transitional and Savings
(1) Upon incorporation under section 3(3) of this Act as Westpac Bank of
Tonga Limited, all properties, rights and liabilities to which the Bank
was entitled or subject immediately before that date shall, by virtue of
this section, be vested in the Westpac Bank of Tonga Limited.
(2) The incorporation under section 3(3) of this Act does not –
(a) create a new legal entity;
(b) prejudice or affect the identity of the Bank or its continuity as a
legal entity;
(c) affect the property, rights or obligations of the Bank; or
(d) affect proceedings by or against the Bank.
(3) Notwithstanding the repeal of this Act, the provisions of this section
shall continue to be in force.”
Passed by the Legislative Assembly this 18th day of May 2015.